Hotel management Study guides, Class notes & Summaries

Revenue Management Final Exam | Latest 2023 with complete solution What is the industry term used to describe the sum of prices paid by a business's customers? - Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Profit What eleme...

Well-structured FOR3701 Assignment 1 (ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). Question 1 According to the information on the module site, who is the primary lecturer of this module and what are their contact details? (1) CASE STUDY Tributes pour in for second victim in AKA fatal shooting, book author & celeb chef Tebello 'Tibz' Motsoane Rapper Kiernan Jarryd Forbes, popularly known as AKA, was murdered in Durban in February 2023. Kier...

Certified Texas Contract Manager Questions and Answers Already Passed Statewide Procurement Division (SPD) The central authority for state agencies for procurement guidance, education, statewide contract development services, and delegation of purchasing authority. Assists its statewide government customers with all stages of the procurement cycle. Policy and Outreach Conducts policy research, training and certification customer service support services. Statewide Contract Development and Cont...

Statewide Procurement Division (SPD) - ANSWER-The central authority for state agencies for procurement guidance, education, statewide contract development services, and delegation of purchasing authority. Assists its statewide government customers with all stages of the procurement cycle. Policy and Outreach - ANSWER-Conducts policy research, training and certification customer service support services. Statewide Contract Development and Contract Management - ANSWER-A broad range of contra...

DECA Hospitality and Tourism Cluster Exam - Test 1183 (EVENTS: Hospitality and Tourism Professional Selling - HTPS Hospitality Services Team Decision Making - HTDM Hotel and Lodging Management Series - HLM Quick Serve Restaurant Management Series - QSRM Restaurant and Food Service Management Series - RFSM Travel and Tourism Team Decision Making – TTDM)

who are players in the hotel industry - ANSWER-affiliations operations and independents categorizations used by hotel industry - ANSWER-geographic categories non-geographic categories what affiliations could a single hotel have - ANSWER-chain parent company management company owner asset management company chain - ANSWER-represents hotel brand which is clearly displayed to public and in all interactions STR uses ____ and _____ synonymously - ANSWER-chain and brand parent co...

FINAL EXAM HOSP 3100 QUESTIONS AND ANSWERS What is hotel Revenue Management? Explain your answer - ANS->>Selling the right product (suite, club etc.) to the right customer (what segment?) at the right time(lead time) for the right price(strategies) through the right channel (GDS, OTA, B etc.) with the best cost efficiency (margin, commission, labour); Optimizing revenue by using tools (reports, systems, recommendations, and competitive intelligence), experience and insight towar...

Well-structured MNE3704 Assignment 4 (ANSWERS) Semester 2 2023 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). Read the following two case studies and answer questions that follow. Case study 1: SC Johnson Many years ago, as a young chemist working in the company’s lab, Samuel Curtis Johnson III (now deceased chairperson of SC Johnson, a family company) tried to convince his father that he had the formula for a breakthrough product – an insecticide. Reports are that...

Revenue Management Final Exam | Updated Question & Answers Graded A + 2023/2024 What is the industry term used to describe the sum of prices paid by a business's customers? Correct Answer Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? Correct Answer Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? Correct Answer Profit = Sales - Costs What is the name for the net value achieved by both ...

Which is a parent company consisting of multiple chains? - Choice Hotels Which is a true statement about parent companies? - Parent companies and related chains have changed over time What are the 3 different operation types - Corporate, Franchise, Independent Which is a true statement about independent hotels? - Independent hotels are not affiliated with a specific chain Which is a true statement about management companies? - Management companies have contracts where they receive payment...

what is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues -total revenues historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits -costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits -costs=profit-sales -prof...